News: Select Resources Corporation to Purchase Bakersfield Processing Facility
biz.yahoo.com
Monday December 13, 9:01 am ET
BAKERSFIELD, Calif., Dec. 13 /PRNewswire-FirstCall/ -- Select Resources Corporation, a wholly owned mining subsidiary of Tri-Valley Corporation (Amex: TIV - News), has opened escrow to purchase a 10 acre industrial site with rail and 117,000 square feet of plant, warehouse and office space to house its industrial mineral joint venture processing operation.
Located in the east Bakersfield, California Enterprise Zone, the facility will receive raw ore for processing, storing in an enclosed area, and delivery to central valley and southern California customers. Purchase price is $2.5 million.
"We are pleased with the Bakersfield location, labor, resources, and local governmental attitudes for building our industrial minerals business and see this as a great platform for growth and increasing shareholder value," said H. J. Sandri, executive vice president of Select Resources Corporation, the joint venture operator.
Tri-Valley Corporation is in its 42nd year of business as a successful operating company and for 32 years has been a full reporting 12 (g) publicly traded Delaware corporation. The Company's stock is publicly traded on the American Stock Exchange under the symbol "TIV" in the United States and is also traded in Europe on the Frankfurt Stock Exchange under the symbol "TVC WKN 911919." Our company websites, which include all SEC filings, are www.tri-valleycorp.com and www.tri-valley.de.
This press release contains forward-looking statements that involve risks and uncertainties. Actual results, events and performance could vary materially from those contemplated by these forward-looking statements which includes such words and phrases as exploratory, wildcat, prospect, speculates, unproved, prospective, very large, expect, potential, etc. Among the factors that could cause actual results, events and performance to differ materially are risks and uncertainties discussed in the company's quarterly report on Form 10-Q for the quarter ended September 30, 2004, and the annual report on Form 10-K for the year ended December 31, 2003.
For further information please contact: F. Lynn Blystone, Chief Executive Officer of Tri-Valley Corporation, +1-661-864-0500, or toll free +1-800-579-9314, fax +1-661-864-0600.
Source: Tri-Valley Corporation
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